The construction of an inexpensive torque magnetometer is described. The apparatus is made out of surplus parts and items readily available in most physics departments. The system consists of a rotating magnet, sample holder assembly, counter torque system, PID controller, laser and laser pick up system, and a data acquisition computer. The construction and function of these components are explained in detail. The system was tested on a 10 nm thick Fe on In(x)Ga(1-x)As, x=.17 thin magnetic film. The data is presented with a description of the data analysis methods used. The film exhibited an unexpected uniaxial anisotropy in addition to the expected four fold symmetry.